Estimated Price Range Target in Channel by Year End for LTCUSD
LTCUSD is in a similar Ascending Channel to ETHUSD and ADAUSD. Appears we are currently in a Simple Rally Event in Phase B of this Ascending Channel. Here's another screenshot of the chart; just in case TV's platform scrunches up the cover chart for the publication (above).
I mentioned anticipation for BTCUSD to a "little" more than double it's low in July of $9,050 on BitStamp by year end. That would put BTCUSD a "little" over $18,100 (Near or above $19,000 to test ATH). I'm also expecting ETHUSD, LTCUSD and ADAUSD to a "little more than double their low on the dip down after the high established in late June, 2019. This would put LTC a little more than double it's low in late August of $62.12. Double would be $124.24. However, I'm anticipating a "little" more than double. Which could put it at my "basis" price target of $176.18 (identified with Red Horizontal Ray on far right of chart). If the "basis" is hit, that would equate to a near 3X increase before consolidation potentially begins at or after mid December, 2019.
I mentioned anticipation for BTCUSD to a "little" more than double it's low in July of $9,050 on BitStamp by year end. That would put BTCUSD a "little" over $18,100 (Near or above $19,000 to test ATH). I'm also expecting ETHUSD, LTCUSD and ADAUSD to a "little more than double their low on the dip down after the high established in late June, 2019. This would put LTC a little more than double it's low in late August of $62.12. Double would be $124.24. However, I'm anticipating a "little" more than double. Which could put it at my "basis" price target of $176.18 (identified with Red Horizontal Ray on far right of chart). If the "basis" is hit, that would equate to a near 3X increase before consolidation potentially begins at or after mid December, 2019.
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Here's a look at the LARGE "Ascending Channel" I'm referring to:
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A "MAJOR" area of "RESISTANCE" is identified in RED. It's certainly POSSIBLE for the price action to be held back once again at the area highlighted in RED and continue ACCUMULATION within a sideways trading range of $65 and $140 until Spring of 2020. If so, that would be very similar to what occurred AFTER the Litecoin Block Halving Event of 2015; in which we continued sideways in accumulation for a lengthy time before finally breaking out with a "Sign of Strength" in Spring, 2017. We will certainly keep an eye on the price action with the indicators as this plays out.
I've highlighted what occurred in 2015 and 2016 with the sideways price action for the purpose of accumulation before the breakout in the Spring of 2017:
I've highlighted what occurred in 2015 and 2016 with the sideways price action for the purpose of accumulation before the breakout in the Spring of 2017:
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Zoomed in a little on potential price range target by year end:
